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49 sats \ 1 reply \ @grayruby 28 Mar \ on: If you go all in on BTC, how do you grow your wealth? bitcoin_beginners
If you are being paid in fiat. You work hard, earn fiat, pay all your expenses and sweep the rest into bitcoin. It increases your purchasing power over time, hence your wealth.
If you are paid in bitcoin. You work hard, earn bitcoin, pay all your expenses (might have to convert some to fiat to do this but hopefully you have most of your expenses arranged for bitcoin payment or buying gift cards with bitcoin to pay most of your expenses), save the rest, it increases your purchasing power over time, hence your wealth.
Long term there will be opportunities to lend and borrow with bitcoin, to invest in private companies and startups but where we are in the adoption phase none of that really makes sense right now because unless you hit the next Uber doing start up investing you aren't likely to outperform simply holding bitcoin.
Nicely put. How do you adjust your mental frame when BTC goes through a dip n you have to expend more sats on something than you normally would?
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